Imminent Collapse of a $5 Trillion Property Market
Triggered by the default of Evergrande Group, China’s premier real estate developer, the second-largest economy in the world is facing a $5 Trillion correction, reports the Wall Street Journal.


PHOTO BY ANNE STEVENSON-YANG


Triggered by the default of Evergrande Group, China’s premier real estate developer, the second-largest economy in the world is facing a $5 Trillion correction, reports the Wall Street Journal.

“Global markets are braced for a possible wave of defaults, with warning signs  flashing over the debt of about two-fifths of development companies that have borrowed from international bond investors.”

“Chinese leaders are getting serious about addressing the debt, with a series of moves meant to curb excessive borrowing. But doing so without torpedoing the property market, crippling more developers and derailing the country’s economy is quickly turning into one of the biggest economic challenges Chinese leaders have faced in years, and one that could reverberate globally if mismanaged.”

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